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EM mercantile trade volumes hit all-time high
Weekly investor research
18 April 2017
EM mercantile trade volumes hit an all-time high in January 2017. Both import and export volumes are rising faster in EM in than in developed countries. PDVSA, the Venezuelan national oil company, met its payment obligations in April. Erdogan claims victory in the referendum granting sweeping powers to the president as opposition contests the results. Argentina’s central bank hiked rates 150bps. Russia and China both rack up large trade surpluses. Rates were cut by 100bps in Brazil. Political tensions rise in Zambia. In the global backdrop section we discuss Trump’s comments on the Dollar and recent geopolitical tensions.